Article created by: Gabija Palšytė
While the Euro zone inflation hits a record 8.6% as the European Central Bank prepares for its first rate hike in 11 years, the rest of the world is also experiencing rising costs of virtually everything.
In the US, costs of necessities yet again skyrocketed in May, leaving the US with a new 40-year high in inflation. Think of gas, food, energy, rent, flight prices, and all other basic necessities. Households across the country are experiencing unprecedented pressures, making them less able to afford discretionary items like electronics or haircuts.
